Senators Ted Kennedy and John Kerry have announced $37.3 million in federal funding for the Single-Family Housing Guaranteed Loan Program will be disbursed to Massachusetts.

The funding comes as part of the American Recovery and Reinvestment Act, under the U.S. Department of Agriculture.

The Single-Family Housing Guaranteed Loan Program is used to assist low-income individuals or households to build, repair, renovate or relocate a home, or to purchase and prepare sites.

"At this time of economic crisis, these funds could not come to Massachusetts at a more critical time," said Kennedy. "These guaranteed loans will allow Massachusetts citizens in hard hit, rural areas the opportunity to get back on their feet."